NAB Wellbeing Index & Consumer Anxiety Index – Q3 2013

The NAB Australian Wellbeing Index fell to 6.4 points in Q3, with a big increase in anxiety in WA a key contributor to lower national wellbeing. Consumer anxiety rose to 6.1 points in Q3, underpinned by rising concerns around cost of living, ability to fund retirement and health.

NAB Quarterly Australian Wellbeing Index: September 2013

National wellbeing deteriorates slightly in line with more subdued economic conditions with significant fall in WA driven by much higher levels of anxiety.

The NAB Australian Wellbeing Index fell to 6.4 points in Q3 (6.6 points in Q2), with a big increase in anxiety in WA a key contributor to lower national wellbeing. Life satisfaction and happiness levels were unchanged, but more Australians rated the worthwhile life and not anxious yesterday questions lower (survey conducted one week before the Federal election). Wellbeing fell in nearly every demographic category, except those living in Tasmania and regional cities, earning $75-100K, widowers and married couples, those without kids and employed in sales/clerical roles. Wellbeing is now lowest in WA – a big turnaround from the highest level of wellbeing in the last quarter.

NAB Quarterly Australian Consumer Anxiety Index: September 2013

Consumer anxiety up slightly as domestic economy continues to slow, with cost of living still the biggest concern.

Consumer anxiety rose to 6.1 points in Q3 (6.0 points in Q2), underpinned by rising concerns around cost of living, ability to fund retirement and health. Job security concerns still low despite softer labour market. More certainty about future policy framework may help explain slightly lower anxiety over government policy (survey conducted one week before the Federal election). Among other key findings: Tasmanian consumers the most anxious; anxiety increased in all income groups; men now more anxious than women (especially job security and health); anxiety rose most for 18-29 year olds; anxiety higher for those with kids, in full time employment and working in “other” jobs.